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In trading on Wednesday, shares of U.S. Bancorp's Preferred Stock (NYSE: USB.PRA) were yielding above the 4% mark based on its quarterly dividend (annualized to $35.7778), with shares changing hands as low as $891.01 on the day. This compares to an average yield of 5.61% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, USB.PRA was trading at a 10.00% discount to its liquidation preference amount, versus the average premium of 1.31% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.